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Ratings and Reviews 4 Ratings
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What is Tropic?
Various organizations, from budding startups to well-established Fortune 500 companies, utilize Tropic to manage their purchasing processes, unlock cost efficiencies, and turn software spending into a strategic advantage. Financial executives choose Tropic because of our dedication to generating savings and ensuring a favorable return on investment. At the same time, IT leaders value our strong emphasis on compliance and risk management, while procurement professionals appreciate our focus on optimizing processes, effectively acting as an extension of their teams. By leveraging benchmark data on critical vendors, you can significantly boost your operational efficiency. Entrusting us with your software purchases and renewals not only saves you time and money but also enhances compliance within your procurement activities, simplifying the management of SaaS solutions. Given that software acquisitions and renewals happen frequently, they can distract from more pressing responsibilities. The uncertainty surrounding pricing structures, the intricacies of contracts, and the presence of multiple stakeholders with differing priorities complicate the renewal process even further. By refining this system, you can redirect your attention toward what is truly essential for your organization, ensuring that your strategic goals are met with greater clarity and focus. Ultimately, embracing this streamlined approach can lead to a more agile and responsive procurement function.
What is Penny?
Penny is an innovative Procure-To-Pay solution that operates in the cloud, offering a beautifully crafted and user-friendly interface that simplifies and digitizes your entire procurement process from the initial request all the way through to payment. With penny, you can effortlessly issue RFQs, RFPs, and RFIs to various suppliers, compare their quotes, generate purchase orders, and handle payments, all while streamlining what is often a complex and cumbersome procedure into a cohesive, intelligent system tailored to your organization’s needs.
So, how does penny contribute to your organization’s efficiency and cost-effectiveness?
● It allows for precise budget allocation, management, and oversight across various dimensions such as expense accounts, projects, departments, locations, and teams.
● By streamlining procurement, penny ensures that requests, approvals, and purchase orders are not lost in a sea of emails or handled offline.
● The platform simplifies the process of retrieving and monitoring the history of requests and purchases, enhancing transparency.
● Product requests become more accurate through the use of catalogs, effectively reducing the likelihood of purchasing mistakes.
● You can generate comprehensive reports and analyses directly from the platform, providing a centralized source of data for all procurement activities.
● Designed with user experience as a priority, penny is cloud-based, ensuring accessibility and ease of use for your team.
Additionally, our Action Board fosters collaboration and provides a straightforward interface, ensuring that every team member can navigate the procurement process with confidence and efficiency.
Integrations Supported
Fusion Software
Xero
Zoho Books
API Availability
Has API
API Availability
Has API
Pricing Information
$3,750 per month
Free Trial Offered?
Free Version
Pricing Information
$1999 per month
Free Trial Offered?
Free Version
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Company Facts
Organization Name
Tropic
Date Founded
2019
Company Location
United States
Company Website
tropicapp.io
Company Facts
Organization Name
Penny Software
Date Founded
2019
Company Location
Global
Company Website
penny.co
Categories and Features
Cloud Cost Management
Cost Reduction Optimization
Dashboard
Data Import/Export
Data Storage
Data Visualization
Resource Usage Reporting
Roles / Permissions
Spend and Cost Reporting
Purchasing
Catalog Management
Compliance Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management
Spend Management
Approval Workflow
Budgeting / Forecasting
Expense Tracking
Multi-Currency
Prepaid Cards
Procurement Management
Receipt Management
Spend Analysis
Spend Control
Supplier Management
Categories and Features
Procure to Pay
Billing & Invoicing
Budgeting / Forecasting
Compliance Management
Contract Lifecycle Management
Financial Reporting
Integration Management
Inventory Management
Order Management
Vendor Management
Procurement
Asset Management
Auction Management
Bid Management
Budget Management
Catalog Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management
Purchasing
Catalog Management
Compliance Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management
RFP
Bid Management
Collaboration
Content Management
Data Import / Export
Due Date Tracking
Knowledge Library
Progress Tracking
RFP Creation
RFP Responding
Requirements Management
Task Management
Templates
Vendor Management
Sourcing
Auction Management
Budget Management
Collaboration
Global Sourcing Management
Rfx Management
Spend Management
Supplier Management
Supplier Qualification
Supplier Risk Management
Supplier Web Portal
Template Management
Spend Management
Approval Workflow
Budgeting / Forecasting
Expense Tracking
Multi-Currency
Prepaid Cards
Procurement Management
Receipt Management
Spend Analysis
Spend Control
Supplier Management